1. News
MNX Closes Senior Subordinated Debt Offering with St. Cloud Capital
Funding will Support Ambitious Expansion Plans for MNX's Transportation and
Logistical Services Within Key Global Markets
Los Angeles, CA: January 03, 2011 - MNX, a leading global provider of
expedited transportation and logistical services, has announced that it has
completed a private placement of growth capital with St. Cloud Capital LLC.
The debt offering provides MNX with capital to fund its ongoing growth within key
global marketplaces such as The Americas, Europe, Africa, and Asia. Over the
last several years MNX has emerged as a leader in expedited and mission
critical transportation services for industries including life sciences,
entertainment, aviation, technology and financial services.
As part of the private placement, Benjamin Hom, Managing Director of St. Cloud,
will join MNX’s board of directors. St. Cloud also purchased a minority interest in
MNX.
“On behalf of the entire MNX team, I am very excited about partnering with St.
Cloud, and the opportunity to leverage their relationships and experience to
support our ambitious growth plans,” said Scott Cannon, MNX CEO. “St. Cloud
taking a minority interest in MNX is an endorsement of our management team,
the commitment made by each MNX employee and partner, and our winning
approach in addressing a challenging and changing global economy.”
Mr. Hom added “St. Cloud’s diverse investment portfolio is built around
established businesses with solid management, proven products or services and
strong growth potential. MNX fits this profile very well. We look forward to
partnering with MNX to achieve its growth plans.”
Financial terms of the transaction were not disclosed.
About St. Cloud Capital LLC St. Cloud Capital is a Los Angeles-based private
equity firm that provides growth capital to the lower middle market (companies
with annual revenues between $10 million and $100 million) throughout North
America. St. Cloud invests in companies across a wide range of industries in
every layer of the capital structure, including senior secured debt, subordinated
debt, and preferred and common stock. St. Cloud's investment discipline includes
control and non-control investments, and in each case involves partnering with a
strong existing management team or experienced industry entrepreneur. For
more information about St. Cloud Capital, please visit www.stcloudcapital.com.
About MNX
Headquartered in Los Angeles, CA, MNX is rapidly emerging as a leading
innovator in the expedited transportation and logistics industry. The company’s
diverse client base includes global leaders in life sciences, entertainment,
aerospace, and medical devices industries. These organizations rely on MNX’s
exceptional track record in transporting critical items around the world, and within
the United States. The company has offices on four continents, and operates a
series of partnerships that extend its network to over 220 countries worldwide.